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Debt & Equity

TRANSACTIONS: Under $10M loans close remotely

Houlihan-Parnes Realtors announced the following transactions:
Ed Graf arranged first mortgage re-financing for a single tenant Dialysis Center. The 10,302 s/f property is located at 3440-3448 Boston Road, Bronx. The non-recourse loan for $3,500,000 is fixed at 3.9% for seven years with a 30-year amortization schedule. The borrower has a 5-year option. The loan can be prepaid with a declining prepayment premium at a descending rate.
Jim Houlihan, Bryan Houlihan, and Christie Houlihan placed a construction loan in the amount of $10,000,000 on the Five Towns Shopping Center at 253-01 Rockaway Boulevard, Woodmere, New York. The loan was placed with a national lender with a fixed rate of 2.78%. The proceeds will be used for the build out of a brand-new 80,000 s/f Stop & Shop. The approximately 500,000 s/f shopping center has a tenant roster that includes Lowe’s Home Center, TJ Maxx, Wal-Mart, T-Mobile, and Chick fil a, as well as the incoming Stop & Shop. The Borrower was represented by Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP and title was acquired by Chicago Title.

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GCP Capital Group arranged mortgage financing in the aggregate amount of $33,150,000 for the following properties:
• $17,200,000 for a six-story multifamily apartment building containing 22 units and 1 commercial unit, located in the East Village of Manhattan. Alan Perlmutter arranged the financing for this transaction.
• $6,250,000 for a free-standing, Citibank Bank Branch comprised of approximately 3,780 ss/f, located in Manhasset, Nassau County. Matthew Classi arranged the financing.
• $5,700,000 for a six-story multifamily apartment building containing 66 units, located on Grand Concourse in the Bronx. Adam Brostovski arranged the financing for this transaction.
• $4,000,000 for a two-story commercial building comprised of approximately 10,000 s/f, located on Fulton Street in Brooklyn. Paul Greenbaum arranged the financing for this transaction.

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Eastern Union Funding arranged the following transactions:
• A $2,625,000 first lien mortgage for the acquisition of a single unite shopping center in North Myrtle Beach, SC. This transaction was arranged by Marc Tropp.
• A $1,775,000 first lien mortgage for the refinancing of a 60-unit mobile home property in Covington, TN. This transaction was arranged by Marc Tropp, Judah Aderet and Avi Weiss.
• A $1,730,000 first lien mortgage for the refinancing of a 6-unit multifamily Ridgewood, NY. This transaction was arranged by Chaim Greenfeld.
• A $1,600,000 first lien mortgage for the refinancing of a 4-unit multifamily property in Brooklyn, NY. This transaction was arranged by Moshe Lipschitz.
• A $1,253,139 first lien mortgage for the acquisition of a 6-unit multifamily property in Brooklyn, NY. This transaction was arranged by David Eisen.
• A $1,200,000 first lien mortgage for the refinancing of a 21-unit multifamily property in Baltimore, MD. This transaction was arranged by Marc Tropp.

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Meridian Capital announced the following transactions:
• A new mortgage of $16,000,000 on a multifamily property totaling 37 units located on Broadway in Long Island City. The loan features a rate of 3.09% and a 10-year term. This transaction was negotiated by David Hayum and Shlomo Levovitz.
• A new $5,170,000 mortgage on a 63-unit multifamily property located on University Avenue in the Bronx, NY. The loan features a rate of 3.25% and a 10-year term. Michael Kesselman and Kerry Brick negotiated this transaction.
• A $5,000,000 mortgage on a multifamily property totaling 64 units located on Madison Avenue in New York, NY. The loan features a rate 2.95% and a seven-year term. This transaction was negotiated by Carol Shelby.
• A new mortgage of $4,750,000 on a 45-unit multifamily property located on West 136th Street in New York, NY. The loan features a rate of 3.30% and a seven-year term. Shamir Seidman and Daniel Neiss negotiated this transaction.
• A $4,400,000 new mortgage on a 42-unit multifamily property located on 65th Street in Sunnyside, NY. The loan features a rate of 3.10% and a seven-year term. This transaction was negotiated by Josh Rhine and Chesky Klein.
• A new mortgage of $4,000,000 on a 52-unit multifamily property located on West 183rd Street in the Bronx, NY. The loan features a rate of 3.25% and a 10-year term. Michael Kesselman and Kerry Brick negotiated this transaction.

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